Futures for the S&P 500 index, Dow Jones industrial average and Nasdaq 100 sold off late Thursday as President Donald Trump said John Bolton will replace H.R. McMaster as his national security advisor and China said it was planning retaliatory measures against U.S. imports. The stock market’s major averages plunged more than 2% Thursday on Trump’s decision to impose tariffs on $60 billion in Chinese imports, saying it was “the first of many” actions.

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Meanwhile Micron Technology (MU) and Smart Global Holdings (SGH), two top stocks from the No. 1-rated data storage group, easily beat earnings views and raised guidance in late trading. Nike rallied on strong results as it sees a U.S. revival.

Meanwhile, Trump continued to make headlines late. Trump tweeted late that Bolton, former U.S. ambassador to the U.N., will replace McMaster in April.

I am pleased to announce that, effective 4/9/18, @AmbJohnBolton will be my new National Security Advisor. I am very thankful for the service of General H.R. McMaster who has done an outstanding job & will always remain my friend. There will be an official contact handover on 4/9.

— Donald J. Trump (@realDonaldTrump) March 22, 2018

Trump recently tapped to CIA Director Mike Pompeo to replace Rex Tillerson as secretary of state. Both Bolton and Pompeo are hardliners on Iran and opponents of that regime’s nuclear deal with the U.S. and other world powers.

Micron Technology

Micron Technology easily beat second-quarter earnings views, with per-share profit surging 313%. Micron also gave strong guidance for the current Q3. But shares fell 3.4% in late trading.

Micron said it will spend to expand memory-chip production capacity in two facilities. The stock, which fell 3.1% to 57.07, also has run up sharply since clearing a 47.08 buy point from a shallow-double bottom on Feb. 26.

Therelative strength line, which tracks a stock’s performance vs. the S&P 500 index, has been hitting record highs.

Micron is a member of the Computer-Data Storage group, which is rated No. 1 out of 197 industries that IBD tracks.

Western Digital (WDC), another big memory-chip maker and data storage group member, fell a fraction late. Western Digital broke out of its own consolidation earlier this month.

Smart Global Holdings

Smart Global, which is much smaller than Micron or Western Digital reported earnings of $1.73 a share excluding various items, crushing views for $1.33. Sales of $314 million topped forecasts for $290 million.